CUNY participates in the Direct Loan Program where students borrow directly from the federal government. Just like any other loan, these loans must be repaid with interest. 

There are two types of Federal Direct Student Loans: the Unsubsidized Federal Direct Loan and the Federal Graduate Plus Loan. Information about these loans follows and can also be found at the Federal Student Aid link to the right.

NEW: As a result of the CARES Act, Direct Loans will not accrue interest from March 13, 2020 through September 30, 2020. Borrowers in "repayment status" are not required to make payments during this time, though any payments made will be applied towards the principal balance.

Before considering a loan you may wish to look into tuition payment plans.

Federal Direct Unsubidized Loan

Amount:  Graduate Students can borrow up to $20,500

6.60% interest rate for graduate students (for loans disbursed on or after 7/1/19 and before 7/1/20). 4.30% interest rate for graduate students (effective July 1, 2020; rates change each July 1).

Fee:  For loans where the first disbursement is made on or after October 1, 2019 the loan fee is 1.059%. For loans where the first disbursement is made on or after October 1, 2020 the loan fee is 1.057%. 
Enrollment:  Student must maintain at least half-time enrollment status (at least 6 credits). 
Other Information:  First-time Direct Loan borrowers must complete an online Direct Loan Master Promissory Note and Entrance Counseling before receiving loan funds. Exit Counseling is required when students graduate or drop below half-time. 
Federal Direct Graduate Plus Loan
Federal Perkins Loan
Private Loan